Torstar subsidiary Metroland Media Group has acquired Smiths Falls, Ontario-based Performance Printing for a sum of $22.5 million. Performance Printing is a commercial printer as well as a newspaper publisher of several Eastern Ontario publications under the EMC brand.
“The acquisition will allow Metroland, publisher of more than 100 newspapers primarily in the Greater Toronto Area, to extend its community newspaper and flyer distribution services to new communities in Eastern Ontario. The acquisition will also support Metroland’s extension of its growing suite of digital offerings,” said David Holland, President and Chief Executive Officer of Torstar Corporation.
EMC serves 27 communities in Ontario including Kingston, Belleville, Brockville, Smiths Falls and Ottawa, a total of 500,000 households a week. Performance Printing has also produced directories for 25 communities in Ontario for the past 33 years. Performance Printing was established in 1977 and claims to be the largest coldset printer in the Ottawa region.
Torstar also announced that it will increase its interest in the Metro newspaper operation, which it jointly owns with Metro International S.A. Torstar now owns 90 percent of the free daily chain, which publishes in Toronto, Vancouver, Ottawa, Calgary, Edmonton, Winnipeg and London. Torstar publishes an edition in Halifax in collaboration with Transcontinental. The deal between Torstar and Metro International was worth $51.5 million.
“We have been very happy with the significant evolution of the Metro newspaper operation over the past decade and are pleased to increase our interest to 90% in this growing national franchise. For both readers and advertisers, Metro has proven to be an attractive medium in the communities it serves across Canada. We look forward to continuing to build on the success achieved to date working alongside Metro International who will continue to be our partner,” said Holland.